I am just over two years into a CS PhD, and have decided to drop out. I was in a competitive field, and found it difficult and frustrating trying to make a worthwhile contribution. I didn't complete many of my experiments as it became apparent they were not sufficient, though I've done an extensive survey of the literature. Talking to my supervisor, he offered me a transfer to an MPhil course instead.
I have no interest in pursuing academia further, and intend to move into industry. I already have a reasonable STEM BSc and good CS MSc from top UK universities, and I'm confident in my tech skills (although some are a bit rusty after two years of research). I feel like I can explain my choice of leaving positively at interview. On the other hand, I have limited work experience, and there are skills I've learned in my PhD which I have no evidence for.
Given this, how does an MPhil compare to simply dropping out, purely in terms of my CV and employability?
Edit: in my mind, the difference is between listing "PhD in [topic] (not completed)" vs "MPhil, dissertation: [topic]" and I'm wondering if the latter is significantly better due to the qualification and documentary evidence.